The electrosurgical devices market is driven by several factors, including an increasing number of surgeries, technological advancements in electrosurgical devices, and the rising prevalence of chronic diseases. The demand for minimally invasive surgeries and outpatient procedures is also contributing to market growth. However, the market faces challenges such as a lack of skilled professionals and the high cost of electrosurgical devices. The market is highly competitive, with key players investing in research and development to launch innovative products and expand their market presence. North America is the largest market for electrosurgical devices due to the increasing number of surgical procedures and the high adoption rate of advanced technologies. However, the Asia-Pacific region is expected to show the highest growth rate due to the increasing healthcare infrastructure and rising disposable income.
Global Electrosurgical Devices Market is estimated to be valued at US$ 6,892.4 million in 2022 and is expected to exhibit a CAGR of 6.8% during the forecast period (2022-2030).
Key Leaders in the Electrosurgical Devices Industry:
1. Bovie Medical Corporation
Founded in 1978, Bovie Medical Corporation is a medical device company that develops and manufactures electrosurgical equipment and technologies. The company is headquartered in Clearwater, Florida, and operates in the United States and internationally. Bovie Medical Corporation, Medtronic Plc, BOWA-Electronic GmbH & Co. KG, KLS Martin, B. Braun Melsungen AG, Conmed, Olympus Corp., Boston Scientific Corporation, Erbe Elektromedizin GmbH, Symmetry Surgical Inc., Encision Inc.
2. Medtronic Plc
Founded in 1949, Medtronic Plc is a multinational medical device company that specializes in the development, manufacturing, and marketing of medical technologies. The company is headquartered in Dublin, Ireland, and operates in more than 160 countries worldwide. In January 2021, Medtronic Plc announced that it had completed the acquisition of privately held Medicrea International, a company that specializes in the development and manufacturing of patient-specific spinal implants.
3. BOWA-Electronic GmbH & Co. KG
Founded in 1977, BOWA-Electronic GmbH & Co. KG is a German medical technology company that develops and produces electrosurgical systems and accessories. The company is headquartered in Gomaringen, Germany, and operates in various countries worldwide.
4. KLS Martin
Founded in 1896, KLS Martin is a German medical technology company that develops and manufactures surgical instruments and medical equipment. The company is headquartered in Tuttlingen, Germany, and operates in more than 140 countries worldwide.
5. B. Braun Melsungen AG
Founded in 1839, B. Braun Melsungen AG is a German medical and pharmaceutical company that specializes in the development and production of medical devices, pharmaceuticals, and surgical instruments. The company is headquartered in Melsungen, Germany, and operates in more than 60 countries worldwide.
6. Conmed
Founded in 1970, Conmed is a medical technology company that develops and manufactures surgical equipment and devices. The company is headquartered in Utica, New York, and operates in various countries worldwide.
7. Olympus Corp.
Founded in 1919, Olympus Corp. is a Japanese multinational company that specializes in the development and manufacture of precision machinery and instruments. The company is headquartered in Tokyo, Japan, and operates in various countries worldwide. In February, 2023, Olympus Corporation (Olympus), a global medtech company committed to making people’s lives healthier, safer and more fulfilling, has agreed to acquire Taewoong Medical Co., Ltd, (Taewoong Medical), a Korea-based manufacturer of medical devices such as gastrointestinal (GI) metallic stents1 to strengthen its GI EndoTherapy product portfolio capabilities, and in turn, contributing to improving patient outcome through comprehensive solutions.
8. Boston Scientific Corporation
Boston Scientific Corporation is a medical device company that designs, manufactures, and markets a range of products used in various medical specialties. The company was founded in 1979 and is headquartered in Marlborough, Massachusetts, USA. Boston Scientific operates in more than 100 countries worldwide, including Europe, Asia, Africa, and the Americas. Its products include cardiac rhythm management devices, neuromodulation devices, endoscopy devices, urology and pelvic health products, and more.
9. Erbe Elektromedizin GmbH
Erbe Elektromedizin GmbH is a German medical technology company that produces surgical instruments and equipment for various medical specialties. The company was founded in 1847 and is headquartered in Tübingen, Germany. Erbe operates in more than 100 countries worldwide and has subsidiaries and sales partners in Europe, Asia, Africa, and the Americas. Its product portfolio includes electrosurgical generators, surgical instruments, endoscopic devices, and more.
10. Symmetry Surgical Inc.
Symmetry Surgical Inc. is an American company that manufactures and distributes surgical instruments and related products for various medical specialties. The company was founded in 2014 and is headquartered in Nashville, Tennessee, USA. Symmetry Surgical operates in more than 70 countries worldwide and has subsidiaries and sales partners in North and South America, Europe, Asia, and Africa. Its product portfolio includes surgical instruments, sterilization trays, and more.
11. Encision Inc.
Encision Inc. is an American company that develops and sells minimally invasive surgical devices for various medical specialties. The company was founded in 1991 and is headquartered in Boulder, Colorado, USA. Encision operates in the United States and internationally, with distribution partners in Europe, Asia, and the Middle East.
*Definition- Electrosurgical devices are medical instruments that use electrical energy to cut, coagulate, or remove tissue during surgical procedures. These devices are used in a variety of surgical specialties and can be either monopolar or bipolar.
